Boothbay Fund Management LLC Purchases New Holdings in OUTFRONT Media Inc. $OUT

Key Points

• Boothbay Fund Management LLC invested approximately $11.39 million in OUTFRONT Media Inc. by purchasing 705,598 shares, representing 0.42% of the company's stock.
• OUTFRONT Media announced a $0.30 quarterly dividend to be paid on September 30th, yielding 6.4%, despite having a high dividend payout ratio of 206.90%.
• Recent stock performance shows OUTFRONT Media shares opened at $18.62, with analysts holding a consensus price target of $19.00 and ratings ranging from "buy" to "hold."

Boothbay Fund Management LLC acquired a new stake in shares of OUTFRONT Media Inc. (NYSE:OUT - Free Report) in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 705,598 shares of the financial services provider's stock, valued at approximately $11,388,000. Boothbay Fund Management LLC owned about 0.42% of OUTFRONT Media as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also made changes to their positions in OUT. SVB Wealth LLC acquired a new position in shares of OUTFRONT Media during the first quarter valued at about $28,000. Caitong International Asset Management Co. Ltd raised its position in OUTFRONT Media by 158.2% in the first quarter. Caitong International Asset Management Co. Ltd now owns 3,331 shares of the financial services provider's stock worth $54,000 after purchasing an additional 2,041 shares in the last quarter. Rossby Financial LCC acquired a new position in OUTFRONT Media in the first quarter worth about $74,000. Lazard Asset Management LLC acquired a new position in OUTFRONT Media in the fourth quarter worth about $113,000. Finally, IFP Advisors Inc raised its position in OUTFRONT Media by 97.6% in the first quarter. IFP Advisors Inc now owns 6,708 shares of the financial services provider's stock worth $113,000 after purchasing an additional 3,313 shares in the last quarter.

OUTFRONT Media Price Performance

OUTFRONT Media stock traded down $0.38 during trading hours on Friday, hitting $18.24. 1,560,653 shares of the stock were exchanged, compared to its average volume of 1,595,349. The company has a debt-to-equity ratio of 4.60, a quick ratio of 0.61 and a current ratio of 0.61. The stock has a market capitalization of $3.05 billion, a P/E ratio of 31.21, a P/E/G ratio of 1.07 and a beta of 1.87. OUTFRONT Media Inc. has a 12 month low of $12.95 and a 12 month high of $19.80. The business's 50-day moving average is $17.94 and its two-hundred day moving average is $16.70.

OUTFRONT Media (NYSE:OUT - Get Free Report) last issued its quarterly earnings data on Tuesday, August 5th. The financial services provider reported $0.51 earnings per share for the quarter, topping the consensus estimate of $0.48 by $0.03. The firm had revenue of $460.20 million for the quarter, compared to analysts' expectations of $463.16 million. OUTFRONT Media had a net margin of 5.99% and a return on equity of 18.07%. The company's quarterly revenue was down 3.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.50 earnings per share. Equities research analysts expect that OUTFRONT Media Inc. will post 1.59 EPS for the current fiscal year.

OUTFRONT Media Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Friday, September 5th will be issued a $0.30 dividend. The ex-dividend date of this dividend is Friday, September 5th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 6.6%. OUTFRONT Media's dividend payout ratio (DPR) is currently 206.90%.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on OUT. Barrington Research reissued an "outperform" rating and issued a $21.00 price target on shares of OUTFRONT Media in a research report on Wednesday, August 6th. Wells Fargo & Company reissued an "overweight" rating on shares of OUTFRONT Media in a research report on Sunday, July 20th. JPMorgan Chase & Co. dropped their price target on shares of OUTFRONT Media from $20.00 to $19.00 and set a "neutral" rating for the company in a research report on Wednesday, May 21st. Morgan Stanley increased their price target on shares of OUTFRONT Media from $17.00 to $19.00 and gave the stock an "equal weight" rating in a research report on Monday, August 4th. Finally, Wall Street Zen raised shares of OUTFRONT Media from a "sell" rating to a "hold" rating in a research report on Saturday, August 9th. Three investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $19.00.

Insider Activity at OUTFRONT Media

In related news, EVP Richard H. Sauer sold 20,109 shares of the firm's stock in a transaction that occurred on Monday, June 16th. The shares were sold at an average price of $15.88, for a total value of $319,330.92. Following the completion of the sale, the executive vice president owned 70,836 shares of the company's stock, valued at $1,124,875.68. This trade represents a 22.11% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Mark Emilio Bonanni sold 4,126 shares of the firm's stock in a transaction that occurred on Friday, August 22nd. The shares were sold at an average price of $19.38, for a total transaction of $79,961.88. Following the completion of the sale, the executive vice president directly owned 4,170 shares of the company's stock, valued at approximately $80,814.60. This represents a 49.73% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 8,454,126 shares of company stock valued at $152,575,272 over the last quarter. Corporate insiders own 0.47% of the company's stock.

About OUTFRONT Media

OUTFRONT Media, Inc leases advertising space on out-of-home advertising structures and sites. Its inventory consists of billboard displays, which are primarily located on the most heavily traveled highways & roadways, and transit advertising displays operated under exclusive multi-year contracts with municipalities in large cities across the U.S.